This comes as Facebook made the same decision at the end of January. While Facebook’s prohibition of cryptocurrency-related ads came into effect immediately, the Google ban will not begin until this June.

The value of Bitcoin dropped by 9.1 percent in the wake of this news. Critics contend that this overarching ban may hurt the legitimate use of cryptocurrencies, while crypto detractors are pleased that cryptocurrency fraud will soon be significantly restricted.

In June, Google will also prohibit ads related to Binary options, a type of financial contract that promises either a fixed amount of compensation or nothing at all.